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Fresenius Medical Care enters into long-term distribution agreement in Japan and expands dialysis products business in Korea
In addition, the company intends to expand its leadership in the Republic of Korea's dialysis product market by acquiring Nikkiso Medical Korea Co. Ltd., a wholly owned subsidiary of Nikkiso Co. Ltd.
The acquired operations will add approximately $15 million in annual revenue and are expected to be accretive to earnings in the first year after closing of the transaction.
"The strategic alliance with Nikkiso will generate significant value to both parties in Japan and Korea, as each company is concentrating on its strengths in these markets," said Roberto Fusté, Fresenius Medical Care's chief executive officer for the Asia-Pacific region.
Background information on the dialysis market in Japan
With approximately 300,000 dialysis patients, Japan is the biggest dialysis market in the Asia-Pacific region. The patient growth rate is around 2%-3% p.a. In Japan, Fresenius Medical Care is active in the dialysis product business by means of its own sales and marketing channels as well as through distribution partners. The company also provides consulting services for dialysis clinics. However, it does not directly operate dialysis clinics in Japan due to legal restrictions.
Background information on the dialysis market in Korea
The Republic of Korea is a fastgrowing market with a patient growth rate of 6%-7%. The number of patients requiring regular dialysis therapy is approximately 50,000. Fresenius Medical Care is the leading company in the Republic of Korea's dialysis product market and, through its partnership with the Yeolin-Medical Foundation, is currently treating more than 850 patients in 16 dialysis clinics.
This release contains forwardlooking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forwardlooking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forwardlooking statements in this release.
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